Swiss Asset Manager GAM Opposes Takeover of Honda Unit by India’s Motherson

Swiss asset manager

GAM Holding

GAM

decrease; red down pointing triangle is opposing a planned takeover of a Honda Motor

7267 0.03%

increase; green up pointing triangle subsidiary by Indian auto-parts maker Samvardhana Motherson International, saying the deal significantly undervalues the Japanese company.

GAM Chief Executive Albert Saporta said the asset manager sent a letter to the president of auto-parts maker Yutaka Giken, urging the Honda unit to either abandon the transaction or seek a significantly higher price.